P is treated as having acquired all of T's assets for $70 cash, $10 of liability assumption and $30 of P
voting stock.
Preexisting ownership is treated differently if it is purchased for cash or property other than
voting stock of the acquirer, as part of a prearranged plan that culminates in a C reorganization.
Section 11 provides that foreign individuals and nonbank corporations may own or control only up to 40 percent of the
voting stock of a domestic bank.
In determining that a three percent premium, as opposed to a higher premium, should be applied, the Tax Court noted that the 18 shares of class A
voting stock was a minority voting block.
They said the measure was also meant to further strengthen the banking system by providing an opportunity for weaker banks to exit the system through the sale of their
voting stock or equity to foreign banks.
If Helen assigns a value of $60,000 to the retained
voting stock, the value of the transferred nonvoting stock for gift tax purposes is $40,000.
According to the ruling, it was proper to treat the preferred stock as
voting stock: "any stock which participates in the action of the directors is
voting stock.
The second proposal by the administration affecting REITs would require that no person can own stock of a REIT possessing more than 50 percent of the total combined voting power of all classes of its
voting stock or more than 50 percent of the total value of shares of all classes of its stock.
The ESOP owns more than 50% of each class of
voting stock or 50% of the total value of all stock.
8 million Class C shares that are not traded, but which give him control of 56% of the
voting stock of the company.
This exceeded the requirement that a majority of GTC's outstanding
voting stock vote in favor of the proposal.
The immediate corporate shareholder of each tier must directly own at least 10% of that tier's
voting stock.
